If the Price Elasticity of Supply Is 1

question 93

Multiple Choice

If the price elasticity of supply is 1.5,and a price increase led to a 1.8% increase in quantity supplied,then the price increase amounted to

• A) 0.67%.
• B) 0.83%.
• C) 1.20%.
• D) 2.70%.

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Definitions:

Genuineness

The quality of being open, sincere, and honest in one's feelings and expressions.

Defensive

A psychological or physiological response aimed at protecting oneself from perceived threats or harm, often involving avoidance or counteraction.

Unconditional Positive Regard

A concept in humanistic psychology referring to a practice of offering acceptance and support regardless of the person's behaviors or feelings.

Carl Rogers

A pioneering psychologist known for developing client-centered therapy and emphasizing the importance of a positive, growth-promoting relationship between therapist and client.